First Trust High Income Long/Short Fund Announces Results of Annual Shareholder Meeting: Fund Defeats Shareholder Proposal

Rhea-AI Summary

The First Trust High Income Long/Short Fund announced the results of its annual shareholder meeting, where Richard E. Erickson and Thomas R. Kadlec were re-elected as Class II Trustees for a three-year term. Shareholders also voted against a proposal to terminate the Fund's investment advisory and management agreements. The Fund primarily aims to provide current income and capital appreciation by investing in a diversified portfolio of high-yield corporate fixed-income securities rated below investment grade.

Positive

• Re-election of Richard E. Erickson and Thomas R. Kadlec as Class II Trustees for three years.
• Majority voted against the termination of investment advisory and management agreements.

Negative

• None.

First Trust High Income Long/Short Fund (the “Fund”) announced today that, based on voting results, shareholders of the Fund voted at the annual meeting of shareholders to re-elect Richard E. Erickson and Thomas R. Kadlec as Trustees of the Fund. Additionally, shareholders of the Fund voted against a shareholder’s proposal to terminate all investment advisory and management agreements pertaining to the Fund. Below are the voting results on the two proposals at the meeting.

The Fund’s shareholders voted at the meeting to elect each of Dr. Erickson and Mr. Kadlec as a Class II Trustee to serve as a member of the Board of Trustees of the Fund for a three-year term. James A. Bowen, Niel B. Nielson and Robert F. Keith are current and continuing Trustees of the Fund.

In addition, shareholders of the Fund voted against a shareholder’s proposal to terminate all investment advisory and management agreements pertaining to the Fund. According to the vote tally, of the votes actually cast on the shareholder’s proposal (i.e. exclusive of broker non-votes and abstentions), a substantial majority of the shares voted at the meeting on the proposal voted against the shareholder’s proposal.

The Fund is a diversified, closed-end management investment company. The Fund’s primary investment objective is to provide current income. The Fund’s secondary objective is capital appreciation. The Fund seeks to achieve its investment objectives by investing, under normal market conditions, a majority of its assets in a diversified portfolio of U.S. and foreign (including emerging markets) high-yield corporate fixed-income securities of varying maturities that are rated below-investment grade at the time of purchase.

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FAQ

What were the outcomes of the First Trust High Income Long/Short Fund shareholder meeting?

Shareholders re-elected Richard E. Erickson and Thomas R. Kadlec as Trustees and voted against a proposal to terminate investment advisory and management agreements.

Who were re-elected as Trustees of the First Trust High Income Long/Short Fund?

Richard E. Erickson and Thomas R. Kadlec were re-elected as Class II Trustees.

Did shareholders support the proposal to terminate management agreements for FSD?

No, shareholders voted against the proposal to terminate all investment advisory and management agreements.

What is the primary investment objective of the First Trust High Income Long/Short Fund?

The primary investment objective is to provide current income, with a secondary objective of capital appreciation.

What types of securities does the First Trust High Income Long/Short Fund invest in?

The Fund invests in a diversified portfolio of U.S. and foreign high-yield corporate fixed-income securities rated below-investment grade.